I did some modeling of the future auto market in graduate school.

My model came up with a huge demand for low priced, simple ICE vehicles as a response to increased energy costs and lowered disposable income levels for many consumers. EV demand came from the high end of the market as consumers willing to spend a lot of money were more open to switching because they were spending a lot of money anyway and it was another option, and ROI on the EV is based on the consumer's ability to overcome the frontend costs, which wealthy consumers are more capable of.